Core Points - The company is holding its third extraordinary general meeting of shareholders in 2025 to ensure the rights of all shareholders and maintain order during the meeting [1][2] - The meeting will include a combination of on-site and online voting, with specific time frames for each voting method [6] - The agenda includes the reappointment of the auditing firm and the proposal for the 2025 semi-annual profit distribution plan [11][10] Meeting Procedures - Shareholders and their representatives must sign in at least half an hour before the meeting and present required documentation [2] - The meeting will follow a structured agenda, allowing shareholders to express their opinions and vote on proposals [3][4] - The meeting will be witnessed by a legal representative from a law firm, who will provide a legal opinion [6][10] Auditing Firm Information - The proposed auditing firm is Gongzheng Tianye Certified Public Accountants, established in 1982, with a significant number of registered accountants and a strong track record in auditing [6][7] - The firm reported a total audited revenue of 308.57 million yuan for 2024, with 265.46 million yuan from auditing services [7][8] - The company plans to negotiate the audit fees for 2025 based on business scale and complexity [9][10] Profit Distribution Proposal - As of June 30, 2025, the company has a distributable profit of approximately 93.96 million yuan, with a net profit of about 48.21 million yuan for the first half of 2025 [11][12] - The proposed cash dividend is 5.00 yuan per 10 shares, amounting to a total distribution of approximately 40.33 million yuan, which is 42.92% of the available distributable profit [11][12] - The proposal does not include capital reserve transfers or stock dividends [12][13]

证券代码：688013 证券简称：天臣医疗 | 2025 | | 年第三次临时股东会会议须知 3 | | --- | --- | --- | | 2025 | | 年第三次临时股东会会议议程 2 | | 2025 | | 年第三次临时股东会会议议案 3 | | | 议案 1: | 关于公司续聘 年度审计机构的议案 2025 3 | | | 议案 2: | 关于公司《2025 年半年度利润分配方案》的议案 6 | 2 天臣国际医疗科技股份有限公司 2025 年第三次临时股东会会议资料 天臣国际医疗科技股份有限公司 天臣国际医疗科技股份有限公司 2025 年第三次临时股东会 会议资料 2025 年 9 月 天臣国际医疗科技股份有限公司 2025 年第三次临时股东会会议资料 目录 2025 年第三次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、中国证券监督管理委 员会《上市公司股东会规则》以及《天臣国际医疗科技股份有限公司章程》（以 下简称"《公司章程 ...

Group 1 - The company Tianchen Medical announced on September 1 that it has repurchased a total of 2,505,324 shares through centralized bidding, which accounts for 3.09% of the company's total share capital [2]

Summary of Key Points Core Viewpoint - Tianchen Medical (SH 688013) announced a share buyback program, indicating a commitment to enhancing shareholder value through capital return strategies [1]. Company Performance - As of August 31, 2025, the company has repurchased approximately 2.51 million shares, representing 3.09% of its total share capital [1]. - The highest repurchase price was 21 CNY per share, while the lowest was 11.87 CNY per share, with a total expenditure of approximately 42.5 million CNY [1]. - For the fiscal year 2024, the company's revenue composition shows that medical devices accounted for 99.99% of total revenue, with other businesses contributing only 0.01% [1]. - The current market capitalization of Tianchen Medical is 4.7 billion CNY [1].

Group 1 - The company Tianchen Medical (688013.SH) announced that it has not conducted any repurchase transactions as of August 2025 [1] - As of August 31, 2025, the company has cumulatively repurchased 2,505,324 shares, representing 3.09% of the total share capital [1] - The highest repurchase price was 21.00 CNY per share, while the lowest was 11.87 CNY per share, with a total expenditure of approximately 42.5 million CNY (excluding stamp duty and transaction commissions) [1]

证券代码：688013 证券简称：天臣医疗 公告编号：2025-052 天臣国际医疗科技股份有限公司 关于股份回购进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2023/12/28，由董事长、控股股东及实际控制 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 人之一陈望宇先生提议 | | | | | | | 回购方案实施期限 | 年 月 日 2023 27 12 | 12 | 日~2025 | 年 | 月 | 26 | | 预计回购金额 | 4,600万元~8,000万元 | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 2,505,324股 | | | | | | | 累计已回购股数占总股本比例 | 3 ...

Investment Rating - The report provides a positive outlook on the MASH non-invasive diagnosis technology, suggesting it could accelerate new drug development in the pharmaceutical and biotechnology sector [2]. Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 0.65% from August 25 to August 29, underperforming compared to the Wind All A index (1.9%) and the CSI 300 index (2.71%). Only the medical research outsourcing (4.9%) and other biological products (0.14%) sectors saw gains, while in vitro diagnostics (-4.12%), raw materials (-3.34%), and vaccines (-0.59%) faced significant declines [2][7]. - The FDA has accepted the proposal for using VCTE-LSM as a reasonable alternative endpoint for clinical trials in adults with MASH and moderate to advanced fibrosis. This non-invasive method is expected to enhance patient compliance and could lead to a surge in drug development in the MASH area within the next two to three years [2][13]. - The report emphasizes the potential for domestic companies in China to leverage their cost advantages and forward-looking strategies in the field of non-invasive companion diagnostics, particularly in the MASH drug development competition [2]. Market Weekly Review - The pharmaceutical and biotechnology sector's performance was notably weaker than the broader market indices, with specific sub-sectors like medical research outsourcing and other biological products showing resilience [7][8]. - Individual stocks such as Tianchen Medical (30.1%), Ailis (25.6%), and Maiwei Biotech-U (22.4%) performed well, while stocks like Lifang Pharmaceutical (-13.9%), Yuekang Pharmaceutical (-11.9%), and Kanghua Biotech (-11.1%) faced significant losses [10][12]. Industry News and Key Company Announcements - On August 28, Kangfang Biotech announced that its drug AK112 received approval for treating advanced non-squamous non-small cell lung cancer, with promising clinical trial results expected to be presented at an international conference [12]. - The report highlights various companies' financial performances, with notable revenue changes and profit margins, indicating a mixed outlook across the sector [16][17].

截至2025年8月29日收盘，天臣医疗（688013）报收于55.9元，较上周的42.66元上涨31.04%。本周，天 臣医疗8月29日盘中最高价报56.68元，股价触及近一年最高点。8月25日盘中最低价报43.02元。天臣医 疗当前最新总市值45.37亿元，在医疗器械板块市值排名83/126，在两市A股市值排名3561/5152。 本周关注点 股本股东变化 2025年第三次临时股东会将于2025年9月12日召开，采用现场与网络投票结合方式，股权登记日为2025 年9月5日。会议审议《关于公司续聘2025年度审计机构的议案》和《关于公司2025年半年度利润分配方 案的议案》。 截至2025年6月30日，公司股东户数为4148.0户，较3月31日减少295.0户，减幅为6.64%。户均持股数量 由上期的1.83万股增加至1.96万股，户均持股市值为57.19万元。 业绩披露要点 2025年中报显示，公司主营收入1.56亿元，同比上升17.66%；归母净利润4821.16万元，同比上升 67.1%；扣非净利润4428.64万元，同比上升71.48%。2025年第二季度单季度主营收入9032.22万元，同 比上升2 ...

Core Viewpoint - Tianchen Medical (688013) has shown a positive performance with a closing price of 50.8 yuan, reflecting a 1.6% increase as of August 27, 2025, amidst varying capital flows [1][2]. Financial Performance - The company reported a main revenue of 156 million yuan for the first half of 2025, representing a year-on-year increase of 17.66% [4]. - The net profit attributable to shareholders was 48.21 million yuan, up 67.1% year-on-year [4]. - The second quarter of 2025 saw a single-quarter main revenue of 90.32 million yuan, a 24.56% increase year-on-year, and a net profit of 35.02 million yuan, which is a 100.15% increase year-on-year [4]. Capital Flow Analysis - On August 27, 2025, the net outflow of main funds was 3.56 million yuan, accounting for 1.62% of the total transaction amount, while retail funds saw a net outflow of 495,300 yuan [1]. - Over the past five days, the financing balance increased to 128 million yuan, with a net financing purchase of 7.23 million yuan on August 27 [2]. Industry Comparison - Tianchen Medical's total market value is 4.123 billion yuan, significantly lower than the industry average of 12.081 billion yuan, ranking 89th out of 123 in the medical device industry [4]. - The company's net profit margin stands at 30.87%, which is considerably higher than the industry average of 11.01%, ranking 14th in the industry [4]. - The company's gross margin is 63.03%, surpassing the industry average of 51.64%, ranking 44th in the industry [4].

Company Performance - In the first half of 2025, the company achieved revenue of 156 million yuan, representing a year-on-year growth of 17.66% [1] - The net profit attributable to shareholders was 48.21 million yuan, with a year-on-year increase of 67.10% [1] R&D and Product Development - The company focuses on key surgical procedures, with core products including various types of surgical staplers and support products, addressing clinical needs such as tissue separation, excision, organ function reconstruction, and intraoperative hemostasis [2] - The main revenue driver is the minimally invasive endoscopic products, which include disposable endoscopic cutting staplers and electric endoscopic cutting staplers, widely used in various minimally invasive surgeries [2] - R&D investment reached 18.89 million yuan in the first half of 2025, up 21.34% year-on-year, with R&D expenditure accounting for 12.10% of revenue [2] - The company applied for 11 new patents globally and received 53 new patent authorizations, including 44 core technology invention patents [2] Product Pipeline and Market Expansion - The company is accelerating its layout around "ultra-minimally invasive + intelligent" dual lines, with products like the "TSN electric stapler" already registered in two overseas countries [3] - The "third-generation endoscopic cutting stapler and nail warehouse" has completed multiple rounds of testing and is about to enter the registration process [3] - The company is also advancing its smart surgical platform project, which has made significant progress in key technologies and is entering the first product release and industrialization phase [3] Industry Outlook - The global medical device market is projected to reach 623 billion USD by 2024, with a compound annual growth rate (CAGR) of 6.9% from 2019 to 2024, and expected to grow to 869.7 billion USD by 2030 [4] - The demand for minimally invasive and robotic surgeries is driving significant growth in the surgical instrument sector, with the company well-positioned to benefit from this trend due to its technological and patent advantages [4] Strategic Initiatives - The company is enhancing its domestic and overseas dual-drive strategy, ensuring stable supply of selected products under national procurement policies while dynamically assessing market competition [5] - The company plans to issue a high dividend payout, distributing 5 yuan per 10 shares, totaling 40.33 million yuan, which accounts for 83.66% of the net profit attributable to shareholders for the first half of the year [5][6]